Dollar to hit parity with USD by end '07: CIBC Fri Jun 1, 2007 8:51 AM EDT
TORONTO (Reuters) - The Canadian dollar will reach parity with the U.S. currency by the end of 2007 with the help of high commodity prices, ongoing merger-related interest and higher interest rates, CIBC World Markets said on Friday.
CIBC said the Canadian dollar, which was last at par with the U.S. dollar in November 1976, will maintain parity with the greenback into at least the first quarter of 2008.
"Between red-hot commodity and energy markets and huge capital inflows associated with an avalanche of M&A deals, the Canadian currency has plenty of octane left to take a concerted run toward parity against the greenback," CIBC World Markets chief economist Jeff Rubin, said in a statement.
Rubin also said he does not expect the Bank of Canada to intervene with a rising Canadian dollar and that the central bank would actually welcome a higher domestic currency.
"With the national jobless rate plumbing 30-year lows and core inflation now bobbing above the Bank of Canada's target range, our earlier assumption of the Bank of Canada intervening against a further rise in the Canadian dollar with rate cuts, no longer seems tenable," Rubin said.
According to Rubin, the Canadian dollar will also benefit from expectations for the U.S. Federal Reserve to cut its key lending rate in the fourth quarter of 2007.
At 8:35 a.m. (1235 GMT) the Canadian dollar was at C$1.0655 to the U.S. dollar, or 93.85 U.S. cents, which marked its highest level since July 1977.
Won't this actually hurt the Canadian economy? Doesn't Canada do a lot of business with border-hopping Americans taking advantage of the USD's buying power over there? What incentive would these bargain-hunters have to go north if the dollars are equal?
knapplc wrote:Won't this actually hurt the Canadian economy? Doesn't Canada do a lot of business with border-hopping Americans taking advantage of the USD's buying power over there? What incentive would these bargain-hunters have to go north if the dollars are equal?
i'm not 100%, but i dont think so because of their insane taxes (Windsor, Ontario which is close by has like a 15% tax or something between PST and GST and all that). plus the only place to shop is Canadien Tire i think we just go over there for their all nude strip clubs
i think alot of Canadiens actully come over here because of the cheaper taxes, also i think they just like our stores better (not alot of Costco/Wallmart/everything under one roof type stores). they're always by our malls and i yell at them for driving slow
Dan Lambskin wrote:i think we just go over there for their all nude strip clubs
Nude strip club? Isn't that a little redundant, like hot-water heater?
well, in Michigan (and i think every state besides West Virgina ) it's topless only...actually i take that back...it's topless only IF they serve alcohol, otherwise they can go topless and bottomless (but who wants to watch strippers if you cant drink ). Canada it's fully nude and you can drink
Dan Lambskin wrote:i think we just go over there for their all nude strip clubs
Nude strip club? Isn't that a little redundant, like hot-water heater?
well, in Michigan (and i think every state besides West Virgina ) it's topless only...actually i take that back...it's topless only IF they serve alcohol, otherwise they can go topless and bottomless (but who wants to watch strippers if you cant drink ). Canada it's fully nude and you can drink
I've never been to a strip club of any sorts, but now I know that if I ever change my opinion of those places, I'll head north for my first experience.
Dan Lambskin wrote:i think we just go over there for their all nude strip clubs
Nude strip club? Isn't that a little redundant, like hot-water heater?
well, in Michigan (and i think every state besides West Virgina ) it's topless only...actually i take that back...it's topless only IF they serve alcohol, otherwise they can go topless and bottomless (but who wants to watch strippers if you cant drink ). Canada it's fully nude and you can drink
I haven't gone for some time to 1 of these but there was a totally nude strip club here that you could BYOB. Best of both worlds. You see the whole show and don't pay $10 for a beer.
Dan Lambskin wrote:i think we just go over there for their all nude strip clubs
Nude strip club? Isn't that a little redundant, like hot-water heater?
well, in Michigan (and i think every state besides West Virgina ) it's topless only...actually i take that back...it's topless only IF they serve alcohol, otherwise they can go topless and bottomless (but who wants to watch strippers if you cant drink ). Canada it's fully nude and you can drink
I haven't gone for some time to 1 of these but there was a totally nude strip club here that you could BYOB. Best of both worlds. You see the whole show and don't pay $10 for a beer.
That's how it is here. Topless they can serve alcohol. Nude is BYOB. Usually a $20 cover, but they set you up with glasses, ice, snacks, and all that jazz.
Not that I would frequent such places of course.
Yes doctor, I am sick. Sick of those who are spineless. Sick of those who feel self-entitled. Sick of those who are hypocrites. Yes doctor, an army is forming. Yes doctor, there will be a war. Yes doctor, there will be blood.....
Dan Lambskin wrote:i think we just go over there for their all nude strip clubs
Nude strip club? Isn't that a little redundant, like hot-water heater?
well, in Michigan (and i think every state besides West Virgina ) it's topless only...actually i take that back...it's topless only IF they serve alcohol, otherwise they can go topless and bottomless (but who wants to watch strippers if you cant drink ). Canada it's fully nude and you can drink
I don't know the exact laws, but there's a few places in Illinois that are fully nude. There's also a few places that are "semi-topless", which means the chicks have to wear those pasties.
They all serve booze.
Sometimes it takes a crazy person to see the truth. If so, I'm a freaking lunatic.
Dan Lambskin wrote:i think we just go over there for their all nude strip clubs
Nude strip club? Isn't that a little redundant, like hot-water heater?
well, in Michigan (and i think every state besides West Virgina ) it's topless only...actually i take that back...it's topless only IF they serve alcohol, otherwise they can go topless and bottomless (but who wants to watch strippers if you cant drink ). Canada it's fully nude and you can drink
I don't know the exact laws, but there's a few places in Illinois that are fully nude. There's also a few places that are "semi-topless", which means the chicks have to wear those pasties.
They all serve booze.
yeah...we went to Crazy Horse or something in Chicago a few years back and i was like "why does this chick have caulk on her nipples ". it was like they dipped them in latex or something...and they were all insistent on the no touching rules there...in Michigan they pretty much encourage it and say things like "put your hands on my b00bs" (or so i've heard)
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i think we just go over there for their all nude strip clubs
) it's topless only...actually i take that back...it's topless only IF they serve alcohol, otherwise they can go topless and bottomless (but who wants to watch strippers if you cant drink 
). Canada it's fully nude and you can drink 
". it was like they dipped them in latex or something...and they were all insistent on the no touching rules there...in Michigan they pretty much encourage it and say things like "put your hands on my b00bs" (or so i've heard)
